Nope
Refox will decompile encrypted apps. It doesn't care, because it knows where the encryption key is located inside the runtime DLL.
If you choose Level II branding, runtimes are modified and the exe is no longer recognized as a valid exe by unmodified runtimes or by foxpro itself.
UnFoxAll, from China, knows how to decompile Refox Level II branded apps if changed runtimes are located.